Dissolving and Winding up your Business

What is a Dissolution Agreement?

A dissolution agreement details the terms and conditions by which business owners dissolve an existing business entity. Not all business relationships work out. A Dissolution Agreement offers the clarity of determining how the assets and liabilities of the former entity will be split between the members and can prevent both misunderstandings and later litigation or disputes. Dissolution Agreements are particularly important in partnerships, because in their absence there may be no clear end to the partnership and partnership liability may continue indefinitely.

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